Central Bank of Brazil raises Selic rate amid uptick in inflation
Ninth consecutive raise as inflation is expected to cross 6% in the coming months
The Central Bank of Brazil continued efforts to combat above-target inflation yesterday, raising its benchmark interest rate for the ninth time in one year as prices were expected to rise again in the coming months.
The Brazilian central bank hiked the Selic rate by 25 basis points to 11%, same as its February 27 decision but less than in previous months. It has raised rates by 375bp since March 2013.
Meanwhile inflation, which has come down from a 6.7% peak last summer but remains well above
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